MEDIA RELEASE: Tax freedom: 11 April is day of fiscal emancipation

This year’s Tax Freedom Day falls on Saturday, 11 April, marking the point in the calendar year when Australians are free from the burden of paying taxes, according to The Centre for Independent Studies.

Australians have had to work for 100 days in 2015 to pay their direct contribution of many billions to government expenditure across federal, state and local governments.

“Tax Freedom Day is an important day on the economics calendar as it signifies when we start keeping for ourselves the money we earn,” says CIS Senior Fellow Robert Carling.

“In 2015, Tax Freedom Day falls on the same day as in 2014, but according to current projections it will be later in the years ahead. This is a worrying trend which underscores the need to reduce burgeoning government expenditure.

“It’s not all clear sailing from 11 April, as governments don’t restrict themselves to spending just what they tax — they keep spending well into May, relying on other non-tax revenue and borrowings to pay.

“Future generations will be slugged the bills from decisions made now, and so it is crucial to take a serious look at government spending priorities and rein in unnecessary expenditure.

“A Tax Freedom Day that falls earlier in the year would mean more money in the pockets of hardworking Australians,” advises Mr Carling.

Robert Carling is a Senior Fellow at The Centre for Independent Studies. He is available for comment.

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